Citi cards can be a very useful and helpful financial tools. But you must use a Citi card right. Every unsecured and secured credit card user must pay his dues in full and on time, and stay within his credit limits. If he is financially disciplined, he can get cash back on his shopping, utility bills, and more. However, if he starts paying just the minimum balance, then his balance starts adding up and the interest rate will start rising, and soon, he’ll find himself in a debt trap. That said, here are a few rules on how you must choose a Citi card that’s right for your needs:
1. People who have accumulated large outstanding balances on their existing unsecured credit card can switch over to the Citi Simplicity Card. This Citi card does not charge an annual fee and is very generous with balance transfers – it features a 0% APR for the first 18 months on balance transfers and purchases. The rate moves to 12.99%-21.99% based on the user’s creditworthiness after the introductory 18 months. There are no late fees and penalty rate. 18 months is a long enough time zone for people struggling with existing credit card debt and they must seriously consider transferring their balance to Citi Simplicity.
2. Citi cards users who do not pay their balances in full must choose the Citi Platinum Select Visa Card, which carries a low 11.99% rate of interest. However, all card users must make it a point to pay their outstanding balance in full on the due dates. Low interest Citi cards are not recommended if the idea is to pay only the minimum balance and carry on splurging.
3. Citi card users who travel often, maintain a tight leash on their finances, and pay their credit card outstanding balance in full can opt for the Citi ThankYou Premier Card. ThankYou is a Citibank rewards program and this Citi cardcan really help travelers. Users get 30,000 bonus ThankYou points after they spend $2,000 in the first 3 months. 30,000 ThankYou points can be redeemed for a $300 gift card or $399 airfare if and when the cards are redeemed through a ThankYou center. The card also offers a 15% discount on companion airfare when the air ticket is booked through Citibank’s benefits provider, Sprint Incentives. No foreign transaction fees are levied and there are no expiry dates. Plus, users get 33% more value for their ThankYou points if the points are redeemed through a ThankYou travel facility. This card works very well for national and international travelers.
4. Shoppers who are crazy about discounts can opt for the Citi Forward Citi card. City Forward allows users to earn 10,000 bonus points after they spend $650 on purchases and sign up for paperless account statements. The card also rewards users with 5 ThankYou points for every buck spent in restaurants or entertainment facilities. Other purchases qualify for 1 point for every buck spent. This makes the Citi Forward a preferred choice of people who dine out or entertain often. The card also rewards users with an additional 1,200 points every year if they stay under their credit limit and pay on time. Moreover, users also qualify to get a 2% APR reduction when they make a purchase, stay within their credit limit and pay on time for 3 continuous billing periods.
Citi cards work best when their usage is perfectly reconciled with the cardholder’s lifestyle. So, go on ahead and figure out your credit card usage before applying for a Citi card. It will help you maximize rewards, save big on interest, and get great discounts.
Is it fair for people to use a city credit card?
While we are all used to credit and debit cards on our high streets, most of us will not have heard of or come across the more modern mode of payment available to city dwellers across the USA, which has come to be known as the city credit card. Basically it grants people in the community the opportunity to shop in selected stores using this card, without having the need for cash in their pockets nor for their own credit or debit card.
Basically the city credit card is fundamentally extremely similar to the average credit card, in that it looks and functions similarly. You will be expected to pay relatively high rates of interest on it, just like any other card, and it has similar disadvantages of incurring debt that all regular credit cards have. So what is the point? What makes it so special? Why should we bother? Essentially the city credit card offers you unique advantages unlike any other average card. It entitles you to significant discounts in certain stores which are unparalleled with any other credit card. However, you are only able to actually use the card in one particular city. And, of course, this must be the city you live in. In addition to this financial advantage, as well as the convenience of not needing cash to be able to go shopping, there are other benefits of joining this special club. You will benefit from honeymoon period offers, such as reduced interests rates for example, and will be invited along to your local club house for various social events including parties, concerts, dinners and the like.
But is it fair that this city credit card exists? Basically only people who live in a city which forms part of the city credit card organisation are eligible to apply, but what about those of us who live just outside the city, but still consider ourselves part of the community. Who decides where we draw the line? Should those of us living in small towns, or in the suburbs be given some other means of benefitting our shopping experience? Even if the latter is not nearly as impressive as the substantial discounts the city dwellers enjoy, it is feasible to argue that others should be granted at least some kind of incentive for shopping there. Otherwise we are in danger of breeding a sentiment of discontent and hatred, and even possibly a segregated society within our cities. Of course this is the last thing the country needs!
On the other hand, however, it is only the people who live in the heart of a city which is renowned for its hustle and bustle who have to pay the higher rates for rent, the ludicrous travel expenses, the crazily high taxes, and so forth. So perhaps it is only fair that they are given the opportunity to balance out their expenses at least to a certain extent. In any case you might actually find that even if you live on the outskirts of a city you are still within the catchment area of people who are eligible to apply. So why not give it a go if you are interested. What have you got to lose?
What are the advantages of using a city credit card?
All of us have heard of credit and debit cards, and indeed probably use one, the other or both. Credit cards work on a system of loans, and charged you on the interest which you amount over time. Debit cards simply deduct a certain amount from your bank account whenever you use the card, and thus will only work if you actually have funds in that account. A city credit card, however, is a new concept. At first glance it may appear similar to a normal credit card, but in fact it is rather different.
There are only several major banks and organisations which issue this modern means of payment, which essentially enables its holder to carry out online transactions and shopping. The difference lies in that a city credit card can only work in a particular city. Most major brands, and indeed large cities are now well-acquainted with the concept of the city credit card. It allows you the benefits of a credit card, but while enjoying the special discounts available to you through these brands. Thus in practice what it means is that only the accredited personalities of a particular city are granted the privilege of being able to use this card. They do not have to carry cash in their pockets, and moreover benefit from the discounts the city credit card entitles them to.
So how do you make sure you are given the right card for you? Essentially the only way of making an informed decision is to monitor city credit card charges, the structure of the bill at the end of the month, and of course repayments. Once you are satisfied with your investigation, you can expect to look forward to lower interest rates, special discounts in certain major stores and indeed the introductory package to the city credit card community.
Nevertheless the city credit card still works on the same basic principles as the ordinary credit card, such as the holder having to pay relatively high interest rates. But the benefits it offers are far superior to any average credit card. If you are interested in gaining access to a city credit card you firstly need to complete an application for, This is usually readily available both online and from all major shopping arcades in your area. Of course do bear in mind that you will only be eligible to use the city credit card if you a resident in that particular city, and can prove it. By way of welcoming you to the system, your new card will entitle you to free membership of your city club, as well as certain organised parties or gatherings. In addition to this, these cards typically offer an initial discount for the first few months of use, and thereafter structured budgeting plans which can indeed prove to be quite useful. So why do you not get onto finding out whether the city credit card is available in your area. What do you have to lose?